How Sacrificing An Inch Cost The Walmart CEO Millions!

By Jatinder Singh, Associate Partner, Lighthouse International

Marc Lore is the CEO of American shopping giant Walmart who own Asda supermarket in the United Kingdom. He originally started his career working in an investment bank before leaving to set up his own entrepreneurial ventures. In this video, he explains how he learnt one of his most valuable lessons in business, which came via the repercussions that a seemingly small decision made on his customer's enjoyment of a product. This decision had been made because he had been more interested in achieving "financial targets", than on understanding his customers through literally trying to cut corners. 🙂

Mr Lore's lessons can be applied very much in our lives. How often have we been quick and efficient with making seemingly small decisions without thinking how this will have a large impact on other people's lives? Ultimately taking the time to understand how other people will be impacted by our actions will lead to greater trust in us from them, because they feel understood. This is the 5th fundamental principle of all successful people, empathic communication.